# Research Frontiers Inc. (REFR) — Shareholder Equity

## Annual Shareholder Equity (USD)

| Year | Shareholder Equity |
| --- | --- |
| 2025 | $933,626 |
| 2024 | $3M |
| 2023 | $4M |
| 2022 | $5M |
| 2021 | $4M |
| 2020 | $5M |
| 2019 | $7M |
| 2018 | $3M |
| 2017 | $3M |
| 2016 | $5M |
| 2015 | $9M |
| 2014 | $12M |

Source: [CompaniesByCap](https://companiesbycap.com/company/REFR/shareholders-equity)